facebookWhich Broker is the cheapest to use if I want to Dollar cost Average (SGD1,000 every month into US ETF and hold for at least 5years? Total amount is less than (USD100,000). SAXO vs IB vs TD vs others? - Seedly

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          Anonymous

          13 May 2020

          General Investing

          Which Broker is the cheapest to use if I want to Dollar cost Average (SGD1,000 every month into US ETF and hold for at least 5years? Total amount is less than (USD100,000). SAXO vs IB vs TD vs others?

          Which Broker platform to use for long term US ETF trading total amount less than US$100,000?

          7

              Discussion (7)

              What are your thoughts?

              Richard

              Richard

              12 Oct 2021

              Level 5·ownself at ownself

              Please look at Saxi or TD for your profile

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                  Hey Anonymous, since you are looking to hold for a long duration of time, it is vital to minimise the costs which could be transaction fees, management fees, amongst others.

                  Interactive Brokers could be a good choice, if not for the fall below fee and your restriction of having a total amount of less than US$100k. They charge around USD$1 per trade, and they use spot rates for their FX. Hence both could help you save quite a bit.

                  Keeping in mind the fact that you're looking at a total of less than US$100k, perhaps Saxo or TD could be a better choice if you do a simulation of your costs over the 5 years.

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                      Colin Lim

                      Colin Lim

                      25 Apr 2020

                      Level 9·Financial Services Consultant at Colin Lim

                      Interactive broker to me is good and affordable.​​​...

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